Rep. Velazquez questions Citigroup's CEO about the salary gap between CEOs and average workers

The CEOs of America's largest banks testify on Capitol Hill about how the industry has transformed in the 10 years following the financial crisis. Rep. Nydia M. Velázquez (D-N.Y) questions Citigroup CEO Michael Corbat on the discrepancy between the CEO and the average worker's salary. She also questions J.P. Morgan CEO Jamie Dimon about comments he wrote in his annual letter.

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online

#CNBC

[abh]

If the salary of CEO and normal employees would be almost equal why would anyone want to be the CEO and take all the responsibility of company and tension regarding that. Simple AF

[robertpaulsin]

Best answer would be..
" it is fair because we see the market supporting these positions at those salary amounts."

[robertvanwyk]

How on earth can you ask these questions and not expect them answer? These type of arguments will never solve anything ...

[topcomment]

If I was the CEO, I would have said, *”I feel underpaid on days like this.”* 🎤 mic drop

[anurag-kumar]

The CEO seemed at peace with the fact that he couldn't possibly explain her how capitalism works.

[kuatprintyards]

This woman has no clue how the world really works. She sits in her office and points fingers at people actually doing work she could never fathom.

[jroc]

even if he's a crook it does no good to ask a bunch of loaded questions and not let him answer them.

[rohitguptac]

The ceo in his mind was like “It’s none of your business how much I make lady ( I deserve it for my skills) if u feel what I pay is less than introduce a law for minimum wages instead of barking at me” be grateful I’m still employing people instead of introducing automation ( they deserve what they get as per their skill and I’m still feeling I’m paying them a lot). The politician is trying to look good by making people think she is fighting for them to gain votes.

[MichaelMisoi]

As CEO his decisions determine whether the company will be profitable or not. Whether shareholders will make money and whether employees will have a job. As such he is paid what the company owners deem his presence and decision making is valuable to the company.

[navyforeveryoungjean-phili]

But the salaries of the lower level employees are ridiculously low.

[WadeMcLure]

In the 60's a CEO's salary was about 50-60 to 1 compared with the average employee, now it's common to be 400-500 to 1. They aren't working any harder today than the 60's (I would argue working even less given modern technology and conveniences)

[daniels.]

He gets paid a lot because he manages 204k employees.

[simon]

Jamie had a point near the end when they cut him off. Why doesn’t the government give us more tax breaks/credits so we can increase our net pay.

[waimeaguyz]

These ceos and heads of these banks all look and act the same. The say a lot about nothing.

[keaka]

Rep Velazquez, why don't you question professional athletes pay, or hollywood? That is more outrageous and yest what exactly do they do for society. Or what about the ration between you and your constituents. Ask Maxine and Pelosi?

[copperinstaller]

Just because you graduate with a degree, is not an entitlement for a position .

[ntandomngomezulu]

Such stupid questions.... he gets paid what he’s worth to the company...

[stump]

The hyper conscientious types and the hyper open types will never get to agreement, its about give and take

[JC-ikeu]

And what is her ratio compared to the people that work for here, who will not get lifetime salary and benefits.

[preachermike]

These young people CHOOSE to borrow money for college. No one forced them to.